Samsung Unveils $150 Million Dollar Startup Fund at CES

By January 22, 2017 December 3rd, 2017 Lifestyle

CES has improvised the earlier method of consumer electronic shop and has brought new versions of the Samsung devices. At the tech conference, Samsung unveils new products which categorize them as follows. It includes tablet, latest Galaxy phone, and phablet device.

In this running span, Samsung is checking around for new startups in addition to its old collection of devices. The previous collection of the CES includes entertainment sector along with frequent televisions, appliances, smartphones, and VR.

In this phase of time, Samsung establishes its own area on the land of Eureka Park. Eureka park flair and hold a flagship of all newcomers, whosoever wants to launch their own products and services in the market! Eureka is the final destination of startups. And, features around 600 startups in its established area.

Although, this was not their first meeting in the park as many have already placed in the past. They have promoted the web in the past to place its startups in the market. The hub was known by the Samsung Global Innovation center in the past.

Samsung took a big step when it the first notion of changing its name from innovative to Samsung NEXT. The managing director of Samsung NEXT venture Brendon Kim states the step through his words which read as, “Our new name reflects our passion for partnering with tech innovators to take them to the NEXT level — build great ideas into products, grow products into thriving businesses and scale businesses that leverage and transform the Samsung ecosystem”.

Samsung funded into the global startups through a $150 million in order to increase the global support in the service transport and advanced software innovation. The finance facilitates Samsung NEXT to form its own platform to empower tech world.

The President and Founder of Samsung NEXT, David Eun said: “We see software and services becoming a core part of Samsung Electronics’ DNA, and startups are keys to achieving this vision”. “Samsung continues to embrace entrepreneurship at all levels and this Fund shows our unwavering commitment to support great startups worldwide.”

The funding claims an investment of Series B on virtual reality, IoT, the new frontier and artificial intelligence. The companies expand capital from the fund which includes Dashbot, Entry Point VR, Filament, LiquidSky, Intezer, 2Sens, Virtu, and Otto Radio.

Kim said- “Our investments bring the power of the Samsung platform to startups to accelerate their growth and ultimately their success,” “The Samsung NEXT Fund expands our global reach and capabilities while increasing Samsung’s access to more great ideas, products, and talent.”

Also the Managing Director of Samsung NEXT Start and head of Samsung NEXT’s international expansion, Emily Becher said, “We’re very passionate about partnering with startups and developing meaningful relationships in startup ecosystems around the world,” “We leverage local experts to fuel traction and drive scale for startups right where they are.”

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